December 10, 2007 / 10:02 AM / 12 years ago

Oman state fund says not UBS Mideast investor

DUBAI, Dec 10 (Reuters) - Oman’s State General Reserve Fund is not the Middle Eastern investor that is buying a stake worth 2 billion francs ($1.77 billion) in Swiss bank UBS UBSN.VX, the fund’s chief executive said on Monday.

“This is not correct,” Warith al-Kharusi told Reuters by telephone when asked if the fund was the buyer.

Asked if another Omani state institution was involved, he said, “I am not aware of that transaction.”

UBS said it had made a 13 billion franc issue of fresh capital, 11 billion francs of which was to be placed with the Government of Singapore Investment Corporation (GIC) and 2 billion francs with an unnamed Middle Eastern investor.

A financial source said in Zurich the Middle Eastern buyer was believed to be the government of Oman.

The fund invests Oman’s surplus oil and gas revenue. Standard Chartered estimated in October the fund’s assets were worth $6 billion dollars. (Reporting by Inal Ersan; Editing by Quentin Bryar)

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